CME Group to launch bitcoin futures contract on Dec. 18

Dec 1 (Reuters) - CME Group Inc on Friday said it will launch its bitcoin futures contract on Dec. 18 to provide a regulated trading platform for the cryptocurrency futures market.

The bitcoin futures, available for trading on the CME Globex electronic trading platform, will be cash-settled, CME said. reut.rs/2BqxD59

CME and Cboe Global Markets Inc received approval from the U.S. derivatives regulator to list bitcoin futures earlier in the day, after the rival bourses were able to show their proposed contracts and trading arrangements met the necessary regulatory requirements.

Nasdaq Inc also plans to launch a futures contract based on bitcoin in 2018, according to a Reuters report.